B. Riley Analysts Lower Earnings Estimates for Etsy, Inc. (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Investment analysts at B. Riley lowered their Q2 2024 EPS estimates for shares of Etsy in a research note issued on Thursday, May 2nd. B. Riley analyst N. Khan now anticipates that the specialty retailer will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.69. B. Riley has a “Buy” rating and a $83.00 price objective on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.57 per share. B. Riley also issued estimates for Etsy’s Q3 2024 earnings at $0.75 EPS and Q4 2024 earnings at $1.12 EPS.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis.

Several other brokerages also recently weighed in on ETSY. The Goldman Sachs Group cut their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Citigroup cut their price objective on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC cut their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays cut their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Loop Capital downgraded shares of Etsy from a “hold” rating to a “sell” rating and cut their price objective for the company from $70.00 to $50.00 in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Performance

NASDAQ ETSY opened at $62.77 on Monday. Etsy has a one year low of $56.60 and a one year high of $102.81. The company has a 50-day simple moving average of $67.39 and a 200-day simple moving average of $71.52. The firm has a market capitalization of $7.34 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 4.73 and a beta of 2.00.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Large investors have recently added to or reduced their stakes in the business. Bares Capital Management Inc. lifted its stake in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after buying an additional 1,480,655 shares during the last quarter. Norges Bank acquired a new stake in shares of Etsy in the fourth quarter worth $86,494,000. Van ECK Associates Corp lifted its stake in shares of Etsy by 40.3% in the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after buying an additional 1,047,811 shares during the last quarter. TD Asset Management Inc raised its stake in Etsy by 260.2% during the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after purchasing an additional 952,907 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in Etsy by 84.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.